Opening of the Stock Market at the Bombay Stock Exchange (Mumbai, India)
Mumbai, India, Friday, February 28, 2014
I’m delighted to be here today for the start of trading at this important stock exchange.
The Bombay Stock Exchange is truly impressive, with thousands of companies listed and a long history as the oldest such institution in Asia.
Of course, trading is now very high-tech, but the stock exchange reminds us of the importance of meeting in person, even in an era of instant communications.
That is why I am in Mumbai and why I am currently undertaking a State visit to India, which has also taken me to New Delhi and Bangalore. The themes of my visit are education, innovation and entrepreneurship—subjects on which the people of our two countries have much to say.
At first glance, Canada and India may look like a study in contrasts. But we have important things in common: shared traditions of parliamentary democracy; a commitment to pluralism; and strong people-to-people ties. More than 1 million Canadians can trace their roots to India—including 500 000 to the Punjab and 300 000 to Gujarat.
Indo-Canadians make important contributions to our multicultural society, and to our country’s economic, academic and political life.
Here in India, too, Canadians are living, working and travelling in large numbers. Together, our two countries have a long-standing, fruitful relationship, and I am pleased to note that our ties are growing, particularly in trade and commerce.
Both Canada and India are committed to building a more structured and productive strategic partnership. In recent years, leaders and officials from our respective countries have made reciprocal high level visits on such issues as foreign policy, finance, trade and energy security.
Together, we have worked hard to deepen our partnership.
The India-Canada economic relationship is strong and holds great potential for broader collaboration. More and more of your counterparts at the Toronto Stock Exchange are thinking of India.
I am encouraged to note the many areas in which Canada and India can work together. Canadians are particularly keen to be partners in infrastructure, energy and food security, and education, innovation and entrepreneurship.
Canada is committed to increasing business linkages with India. We must do so with the ultimate goal of empowering all our citizens to reach their potential and contribute to the societies in which they live.
As I ring the “opening” gong on this day of trading, let us dedicate ourselves to building smarter, more caring nations in a fairer, more just world.